In the old days nobody really knew how much oil was required. But the biggest thing was nobody cared about water quality, air quality, so mfrs just recommended "more oil". Why not, right?
Then the gub'mint looks at the yearly sales of 2-stroke oil, "KNOWING" that every last drop of the hundreds of thousands of gallons is by design, intended to be spread all over the countryside, so gub'mint has to DO something, so starts to talk about banning the 2-stroke engine.
The manufacturers respond.
Mfrs don't want 2-stroke engines banned so they study the situation and discover that 50:1, with modern oils, is plenty oil. Sufficient yet only pollutes 1/3 to half as much as the old days (and costs less too).
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One problem you can run into with 2-strokes is some of them are very sensitive to the fuel/air ratio. If you have an engine that is jetted to run at 20:1 and you put 50:1 mix in it, you have richened your fuel/air mixture by a lot. Plus the fuel is a little less viscous too and goes thru the jets faster. So anyway you may have to go a size smaller for a carburetor jet, or reset your mixture screws.
Luckily using less oil results in a richer mixture, which burns cooler. As opposed to the other way around, for example running 32:1 in a 50:1 engine is a leaner condition, can cause the engine to run hotter, and with 2-strokes that can be dangerous to the piston. For the hotter (leaner) condition you may be glad you put more oil in it, but you didn't need to.
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I use 50:1 in all my small engines. In my motorcycles I run 80:1.